HomeMy WebLinkAbout031 - 05/04/1993 - AUTHORIZING THE SALE OF COMMERCIAL TRACT OF BRITTANY KNOLLS PUD 4
ORDINANCE NO. 31, 1993
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE SALE OF REAL PROPERTY DESCRIBED AS
COMMERCIAL TRACT OF BRITTANY KNOLLS PUD
WHEREAS, on October 30, 1984, and February 4, 1986, the Council of the City
of Fort Collins (the "Council ") authorized the creation of Provincetowne/Portner
Special Improvement District #81 and South Lemay Special Improvement District #86
(the "Districts") for the purpose of installing street, water and wastewater
improvements within the District; and
WHEREAS, on August 2, 1988, and October 1, 1986, assessments were levied on
property in the Districts, including Brittany Knolls PUD, for the cost of
construction of the improvements; and
WHEREAS, the owner of the commercial tract of Brittany Knolls PUD, which is
shown on Exhibit "A" attached hereto and incorporated herein by this reference,
failed to pay the installments due on October 31, 1989, and June 30, 1990; and
WHEREAS, in accordance with Section 22-97 of the Code of the City of Fort
Collins, the commercial tract of Brittany Knolls PUD was advertised and sold by
the Larimer County Treasurer at the 1990 tax sale, and certificates of purchase
were issued to the City; and
WHEREAS, the owner of the commercial tract of Brittany Knolls PUD
subsequently executed a deed in lieu of foreclosure conveying said property to
the City; and
WHEREAS, Section 22-97(d) of the Code provides that, if the City is the
owner of property acquired in satisfaction or discharge of liens represented by
certificates of purchase, it may sell such property for the best price obtainable
at public sale or auction or by sealed bids or by such other method of sale which
may be approved by the City Council ; and
WHEREAS, on May 19, 1992, the Council adopted a Sales Policy for Property
Acquired Through or in Lieu of Special Assessment Lien Foreclosure Process ("the
Policy") ; and
WHEREAS, pursuant to the Policy, the City has issued a request for bids
seeking buyers for the commercial tract of Brittany Knolls PUD; and
WHEREAS, in response thereto, the highest bid received by the City was
submitted by Christian Church (Disciples of Christ) Central Rocky Mountain Region
in the amount of One Hundred Eighty-one Thousand Five Hundred Dollars ($181,500) ;
and
WHEREAS, under Section 23-111(a) of the Code, the Council is authorized to
sell real property owned in the name of the City, provided it first finds the
sale is in the best interest of the City; and
WHEREAS, Section 22-97(e) of the Code describes the manner in which the
proceeds of sale of real properties should be allocated when the property sold
has been acquired through the foreclosure of a special assessment lien.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS
as follows:
Section 1 . That the sale of the commercial tract of Brittany Knolls PUD to
Christian Church (Disciples of Christ) Central Rocky Mountain Region for the sum
of One Hundred Eighty-one Thousand Five Hundred Dollars ($181,500) is in the best
interests of the City.
Section 2. That said amount is the best price obtainable by the City for
said property and represents the fair market value of the Property.
Section 3. That the Mayor be, and hereby is, authorized to execute such
agreements of sale and documents of conveyance as are necessary for the City to
sell and convey the property described above to Christian Church (Disciples of
Christ) Central Rocky Mountain Region on the terms and conditions described
above.
Section 4. That the proceeds derived by the City from such sale shall be
allocated according to the provisions of Section 22-97(e) of the Code.
Introduced, considered favorably on first reading, and ordered published
this 20th day of April , A.D. 1993, and to be presented for fi 1 passage t e
4th day of May, A.D. 1993.
0
ATTEST:
IL
City Clerk
Passed and adopted on final reading this 4th day of A.D. 3/
a or
ATTEST:
City Clerk
24-32053 EXHIBIT A
A tract of land located in the Southeast quarter of Section 12 ,
Township 6 North, Range 69 West of the 6th P.M. , of Larimer
County, Colorado, being more particularly described as follows:
Considering the East line of the said Southeast quarter of Sec-
tion 12 as bearing North 00 degrees 0010011 East and with all
bearings contained herein relative thereto:
COMMENCING at the Southeast corner of said Section 12 , the TRUE
POINT OF BEGINNING of this description;
thence along the said East line, North 00 degrees 00100" East
517 . 25 feet to the Easterly prolongation of the Southerly right-
of-way of Brittany Street;
thence along the said Easterly prolongation and along the said
Southerly right-of-way the following five (5) courses and dis-
tances:
(1) North 90 degrees 00100" West 101. 72 feet;
(2) 151. 84 feet along the arc of a curve concave to the North,
having a central angle of 31 degrees 4510011, a radius of 274 . 00
feet, the long chord of said curve bears North 74 degrees 07130"
West, 149 . 90 feet;
(3) North 58 degrees 15100" West 176. 00 feet;
(4) 725.94 feet along the arc of curve concave to the Southeast
having a central angle of 120 degrees 1214011 , a radius of 346. 00
feet, the long chord of the said curve bears South 61 degrees
38140" West 599. 93 feet;
(5) South 01 degree 32120" West 341. 00 feet to the South line of
the said Southeast quarter of Section 12 ;
thence along the said South line, South 88 degrees 27140" East
933 . 00 feet to the POINT OF BEGINNING, less that portion con-
tained in Deed of Easement to the City of Fort Collins, Colorado,
recorded June 5, 1986 at Reception No. 86029299 .
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